11th October 2016
Today’s blog is a guest post from one of our Board. It wasn’t quite what we were expecting but its very, very good….
I, the undersigned, hereby state my desire to outlaw the use of data analytics.
This petition calls for the immediate incarceration of data scientists, and public flogging for those who practice such witchcraft in conjunction with their sales team.
Because I am significantly poorer as a result of an integrated approach to advertising. Because my disposable income is recklessly cast asunder to those friendly advertisements that appear on my search engine.
I recently bought a bicycle from an online retailer. An innocent enough endeavour, has subsequently been soured to a great degree. The inundations of targeted advertisements that came my way, mean that I am now also the proprietor of a helmet, a dashing Lycra outfit, expensive cycling shoes (still unclear as to their merit) and enough high visibility to gear to render me visible in a lunar eclipse.
By storing, analyzing and extrapolating revenue generative data.
E-Commerce can influence the buy-side decision making of consumers, by profiling them using data repositories, and targeting them appropriately.
Let’s take the bicycle vendor. They have stored my name, Date of Birth, addresses (email and physical, billing and delivery) my mobile phone number and my recent activity and keyword usage on Google. Using this data, they have been able to build a consumer profile for me – and this data has a saleable value.
Ever clicked the option for “from time to time, we will share your information with selected partners in order to provide you with exclusive offers” ?
In plain English, this is a euphemism for “We know all about you. We are going to bleed you dry by selling your data to the highest bidder, so that they can hit you for further needless purchases”
Clever though. And it works.
Data analytics is heralding a paradigm shift in business. For start-ups, SME’s and corporations alike, having an integrated data infrastructure capable of conversing internally and yielding an enhanced consumer offering is now essential.
Investing in data capabilities might seem like a superfluous overhead. It shouldn’t – closely align your data objectives with an enhanced consumer offering, and the legacy of your spend on data will far outweigh the initial investment.
Get in touch with the good folk at Analytics Engines who would be delighted to discuss your data capabilities…